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Tian Jin Global Magnetic Card Co Ltd announces settlement of lawsuit with branch of Bank of Communications Co Ltd


Monday, 9 Dec 2013 07:00pm EST 

Bank of Communications Co Ltd:Tian Jin Global Magnetic Card Co Ltd reached a settlement for a lawsuit, which Tianjin Branch of Bank of Communications Co Ltd (plaintiff) filed against a Tianjin-based communication center company (defendant) regarding loan dispute with Tian Jin Global Magnetic Card as guarantor.Tian Jin Global Magnetic Card will pay principal of 17,952,544.38 yuan to the plaintiff in place of the defendant, by Dec. 13.